18 Jul 2023
PAROS PROPERTY TRUST LIMITED v SMITH [2023] NZHC 1873
- Citation
- [2023] NZHC 1873
- Court
- High Court
The Court held that the rent review must proceed in accordance with s152(3) of the Municipal Corporations Act 1954 (valuation by three independent persons), that time was not of the essence for the rent review, that Paros acted within a reasonable time after the Court of Appeal decision and is not estopped from conducting a new review, and therefore the Court will supervise the appointment of valuers and set a timetable to determine the rental for the period commencing 14 November 2018.